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International Business Times UK
International Business Times UK
Michael Toledo

EdTech Giant Chegg Slashes 45% of Workforce as AI Upends Business — But Its Stock Still Struggles

Chegg Dan Rosensweig
Chegg Stock Price (Credit: Image by Oleksandr Pidvalnyi from Pixabay)

Education technology firm Chegg is undergoing one of the biggest shake-ups in its history, announcing plans to cut 45% of its global workforce as artificial intelligence transforms the way students learn and study.

The drastic move comes as the California-based company struggles to stay afloat amid the rise of free AI homework tools such as ChatGPT, which have rapidly eroded demand for its paid tutoring and study-help services.

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